- Turkey’s import scrap prices rebound by $20 w-o-w
- Kanto Tetsugen scrap export tender prices better than market expectations
- Tokyo Steel hikes scrap purchase price at Kanto plant by JPY 6,000/t ($57)
- Turkey’s imported scrap prices rebound by $20 w-o-w – Imported scrap prices to Turkey showed sharp fluctuation in recently concluded deals. Buyers are actively booking fresh slots for Mar’21 shipments on increased domestic finished steel demand. Suppliers are even targeting $415-420/t CFR level, as market insiders consider that there is room for more bookings for March shipments. SteelMint’s assessment for US-origin HMS 1&2 (80:20) now stands at $410/t CFR Turkey, up by $20/t w-o-w.
- Tokyo Steel hikes scrap purchase price at Kanto plant by JPY 6,000/t ($57) – Japan’s leading EAF mill – Tokyo Steel has raised its scrap purchase price for Utsunomiya plant by JPY 6,000/t ($57). The company would now pay a price of JPY 35,000/t ($333) for H2 scrap delivered at Utsunomiya. However, prices for the other four works remain unchanged including the Tahara plant. Hike in Japanese scrap export offers along with improved consumption have resulted in a hike in domestic offers as well.
- Monthly Japan’s Kanto scrap export tender fetches bid higher than expectations – Japan’s monthly Kanto Tetsugen ferrous scrap export tender for Feb’21 was concluded on 10th Feb’21. Around 15,000 t of Japanese H2 scrap was awarded at an average price of JPY 39,271/t ($375) FAS, falling by JPY 5,480/t ($52) m-o-m. However, bids were higher than market expectations.
- Hike in Japanese scrap export offers – South Korean buyers are mostly quiet as this week bids have not been presented. Japanese scrap export prices to South Korea are currently being offered at JPY 37,000/t to JPY 39,000/t levels. However, no deals were concluded. SteelMint’s price assessment for Japanese H2 scrap export stands at JPY 39,500/t FoB ($376), increasing sharply by JPY 2,000/t ($19) w-o-w. Japan’s ferrous scrap export offers to Vietnam have moved up by $15-20/t after the Kanto tender result this week. Currently, offers for bulk Japanese H2 scrap is being quoted around $418-420/t CFR to Vietnam. However, market is quiet for Tet holidays.
- India’s imported scrap prices up by $25 w-o-w – Imported scrap offers to India have rebounded this week. However, trades are yet to improve owing to the disparity between bid and offer. Buyers continue their wait-and-watch mood due to high price volatility seen in domestic steel prices in the secondary segment. SteelMint’s assessment for containerised shredded stands at $430/t CFR Nhava Sheva level, increased by $25/t w-o-w.
- Bangladesh bulk scrap offers up, trades yet to resume – Bulk scrap prices to Bangladesh have moved up significantly after Japan’s Kanto tender price beat market expectations. However, Bangladesh-based bulk buyers remained quiet and are yet to resume fresh bulk cargo bookings for Mar’21 shipments. Fresh indicative offers for Japanese H2 is being offered at $425-430/t CFR Bangladesh level, but no deals were concluded as yet on disparity between bid and offer.
Containerised imported scrap prices to Bangladesh mostly remained firm this week. However, trades slowed down on low finished steel market sentiments. SteelMint’s assessment for shredded now stands at $440/t CFR Chittagong level, up by $20/t w-o-w. - Imported scrap prices in Pakistan up in recent deals – Imported scrap prices in Pakistan have rebounded by around $20/t in the deals concluded recently. Deals for around 5,000 t of imported Shredded scrap in containers were traded in the range of $420-425/t CFR Qasim basis, sources have reported to SteelMint.
SteelMint’s assessment for the UK/EU origin now stands at $428/t CFR levels, registering a rise of $25/t w-o-w. - Shagang Steel retains scrap purchase price this week – Eastern China’s largest EAF steelmaker- Shagang steel has kept its scrap purchase price unchanged from the last two weeks. Prices for HMS (6-10 mm) stood at RMB 3,190/t ($493), inclusive of 13% VAT, delivered to headquarters.
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